The Chancellor has been urged to extend the self-assessment tax return deadline beyond January 31, with concern that people will need more time to analyse their finances in greater detail due to the impact of the coronavirus outbreak. Accountancy firm Moore has asked the Chancellor and HMRC to give taxpayers at least an extra month to deal with their tax return.
The firm’s Tim Woodgates said pushing the deadline back is “essential to avoid causing more anxiety and stress” to those who are shielding, adding that a “blanket extension is the best option”. Noting that late-payment can result in fines, Mr Woodgates said HMRC is “snowed-under” and will not have enough time to deal with appeals against penalties “without falling behind elsewhere.” “Compared to overall tax take, the penalties for late filing are immaterial,” he added.
Read more: Daily Express
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